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What you need for IoT security

Manoj Kumar Rai, Head of M2M Solutions, South Asia & Japan, Gemalto | June 9, 2016
While it holds a huge potential to deliver better quality of life and business results, security professionals will have to take a closer look at IoT security to counter the risks of cyber-attacks and frauds.

This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.

Part 1 | Part 2 | Part 3 | Part 4 | Part 5 Part 6 | Part 7 | Part 8 

Part 1: Definition of IoT Security

1.    Market Projection of IoT

The Internet of Things (IoT) is the latest trend taking over the technology world by storm. According to Juniper, "IoT represents a combination of devices and software systems, connected via the Internet, that produce, receive and analyze data with the aim of transcending traditional siloed ecosystems of electronic information in order to improve quality of life, efficiency, create value and reduce cost." Indeed, as pointed out by them in The Internet of Things 2015-2020 Market trends & Competitive Landscape report, just connecting a device to the Internet does not mean that it forms part of the IoT automatically, even if the device can report data that it produces. Data analytics form an important part of the delivery chain as it aims to supply intelligence to other connected devices.

A number of research firms have published mind-blowing estimates for IoT growth in the recent years. According to Gartner, IoT will include 26 billion units by 2020, and revenue from products and services will exceed $300 billion by that time. IDC also forecasts that the worldwide market for IoT solutions will grow to $1.7 trillion by 2020. There are plenty of other forecasts too, all predicting one thing in common - IoT promises to deliver a broad range of benefits in virtually every area of our lives, from improving our lives and efficiency, to smarter cities. It holds enormous opportunities for all parties - from hardware and software developers; data centers, platforms and services providers; to data analytics and infrastructure companies.

Thus, it is no surprise that all major vendors and enterprises are investing in building and supporting IoT ecosystem. But, an unprecedented number of connected objects and the huge amount of data they produce also mean that such systems will be vulnerable to hacking and misuse by cyber criminals. While there are no silver bullets, industrial and regulatory bodies must proactively and continuously take appropriate actions to mitigate the evolving risks from end to end.

A spate of recent incidents have highlighted serious concerns related to security and consumer privacy, from manufacturing integrity to data integrity and availability, necessitating the need to think of IoT security from the design and conception stage, not as an afterthought.

2.    Incidents

1)    Manufacturing Security: Secure IoT begins with secure manufacturing infrastructure. In a rush to bring new technologies, devices and cars to the market, comply with regulations, or make profits, manufacturers are often neglecting security during manufacturing. 

 

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